Crown (CWN)

Deutsche Bank has maintained its “buy" on gaming and entertainment group
Crown
. The broker increased its valuation by 14 per cent to $13.30 following the appreciation of its joint venture Melco Crown in Macau, China. Melco Crown’s stock has increased by 39 per cent in the past three months.

Deutsche forecasts the Macau market will increase by 11 per cent in 2013 (up from 8 per cent) with the VIP market to increase by 5 per cent (up from 0 per cent) and the mass market to increase by 25 per cent (up from 22 per cent).

“January is also off to a strong start, up 19 per cent in the first two weeks of the month, notwithstanding the implementation of a partial smoking ban from January 1, 2013, and anti-corruption measures," Deutsche said.

Deutsche increased its earning per share estimate for 2013 by 3 per cent to 61.4¢.